London, Sept 02: Vivendi Universal is nearing a deal over a multi-billion dollar show business merger with television network NBC and could seek approval for exclusive talks as early as Tuesday, sources close to the sale said. After eleventh-hour negotiations with NBC and a rival consortium led by Edgar Bronfman Jr., Vivendi is close to picking the television network as the winner of its marathon auction of Hollywood assets, including Universal Studios.
However, Bronfman remains in the running. Negotiations continue with both sides ahead of a meeting of top Vivendi board executives as Vivendi faces the final choice of keeping its hand in Hollywood or focusing on its French home turf.
"I think Bronfman has done quite a good job...but...it seems Vivendi will want to keep their hat in the ring in terms of keeping exposure to the entertainment business," one source said. Vivendi declined to comment.
Bidder representatives prepared to meet Vivendi management in Paris as they entered the home stretch of a marathon battle that has gripped the media industry for more than three months and drawn some of Hollywood's biggest egos.
Paris-based Vivendi, the world's number two media group which is selling assets to cut debt, is eager to reach a decision this week and board members could sign off on exclusive talks as early as Tuesday, one source said.
Bureau Report